BREAKING NEWS on CNBC - CME halts trading on Energy Futures as gasoline plunges 7%

Exactly! WTF- They can make as much $$$ as possible, but can only lose to a set limit!

That is not a fair system!

People are FIGHTING BACK by not buying and truly watching their usage.

Why do you think it went up recently?
Coz people are NOT driving as much and the gas/oil companies need to keep their profits up.

They WILL push back and continue to raise gas prices artificially.

I refuse to buy fuel if I don't need it. I limit my travel and do more at home now too.

SCREW THEM !!

We have the money,,, we ARE the ultimate comsumer,

:nowwhat:

I didn't see in the article what CME stands for

I guess it's not coronal mass ejection halts trading

Now that would have been epic

Most futures markets have a "Limit" for how much a commodity can move in a day with the ability of the exchange to cut that limit by even more.

The reason for a "Daily Limit" or for the exchange to shut down trading because of a big move has nothing to do with affecting prices over time ... IT IS TO MAKE SURE THAT THE CUSTOMERS ie: TRADERS HAVE ENOUGH MONEY IN THEIR ACCOUNTS TO COVER THEIR LOSSES!!

If there is one thing the exhanges HATE ... it is for customers to NOT pay their bills to the member clearing firms!!

Remember the member clearing firms make their money no matter if the price goes up or down ... but if a customer comes up shy on being able to cover his/her losses if it goes up or down THAT MONEY COMES OUT OF THE POCKET OF THE MEMBER/CLEARING FIRM!

Big one day moves in virtually any commodity almost always results in a trading halt. Anybody who has traded commodities is VERY aware of trading halts ... and hates them but knows why they happen.

Well, I'm guess that this means that gas-prices have never ever changed much then, cuz the dollar is always changing. The price is indeed changing for customers because if their income does not rise due to the depressed dollar, whilst gasoline prices increasing, then yes, the gas prices are indeed rising then.

HAVE YOU HAD ENOUGH YET???
ARMED REVOLUTION YET??
NEED MORE STILL??
LETS ROLL!



This is SO very CLEAR. You need to help yourselves.

capitalist swines.

That is bullshit. Someone needs to take the gov to court for illegal market practices.

Armed Revolt? Yeah maybe 150 years ago that would have worked. They have all the tech, manpower and weapontry along with the resources to squish any resistance before it has time to begin.

Sorry, but the whole "take the guv'ment by force" is silly. We are fucked, no doubt, but the answer isnt revolt with arms... That will in no way win and will further their goal.

I wonder why the same percentage drop in Silver did not receive the same "brief halt"

Oh yeah, the Banksters need Silver to drop to cover their shorts and want oil to raise to further rape the people.

I can not believe there has not been a revolution yet.

Drop your Fluoride and eat your HFCS now citizen. American Idol comes on soon...

Yeah but didn't stop our government pimps in the oil industry raising the price of gas over 9 cents a litre here, or if you wish, about 50 cents a gallon.

It's flat out rape, government sanctioned.

gas (petrol) NEVER GOES DOWN, despite the price fluctuating all over the gaddam range between $60 and $250 per barrel.

we is got shafted, men!

plan of action?

Biketards!

I didn't see anyone halting any trading when it was going up, those #$%^@## !!!

That's called fascism, government in bed with corporations.

Disgusting these greedy f--kers. Just wait, some lunatic will go on a rampage and blow the gasoline refineries leaving a suicide letter, - "If I can't afford to drive, nobody will!"

It is true, we don't have enough gasoline refineries and a glut of oil, demand is high and supply limited. Very crafty these oil companies. Laughing all the way to the bank.